Trumped -- Ed McMahon finds a buyer

This from the Associated Press: "Ed McMahon is on the move. McMahon has agreed to a deal with a private buyer for his hilltop home, said Howard Bragman, the former 'Tonight' show sidekick's spokesman."

More: "Bragman declined to name the buyer or the selling price. But he said it isn't real estate mogul Donald Trump, who recently offered to buy McMahon's home and act as a landlord."

The back story, for those of you who somehow missed it, is that McMahon had been unable to sell his Beverly Hills house at asking prices ranging from $7.7 million down to below $5 million and was at risk of losing the house to foreclosure.

Your thoughts? Comments?
-- Peter Viles
Photo: Associated Press

Comments

[Ron]

Why is Ed McMahon's home described as "Beverly Hills?" The house is several miles from Beverly Hills. In fact, it's located in the Valley, in Studio City.

[bc]

Where can a fella get a really good cheeseburger in beverly hills?

[Joe]

You are correct, sir!

[Philip]

Actually it's Beverly Hills postal.

[Moral Hazard Goes A-Courtin']

This is the Summit. It's on the valley side of Mulholland Drive. The post office assigns it a 90210 zip code. They most likely do not have (818) phone numbers. They most likely cannot send their kids to Beverly HIlls public schools. The City of Beverly Hills most likely does not consider this part of their incorporated area. Los Angeles county assessor considers this to be city of Los Angeles.

Question is, was "Beverly Hills Post Office" a deal made by developers to boost property values, or by homeowners themselves? Or just a quirk of real estate that was capitalized on by real estate agents?

No matter how hard they try, they're still in the Valley, poor dumb shmucks. (Dont' get me wrong -- besides the heat, there's nothing wrong with the Valley that I know of. Could be mistaken though).

[Nick]

Totally OT, but my understanding is that the post office assigns zip codes fairly arbitrarily based on their distribution routes and area assignments. I'm be much more inclined to guess that people capitalized on the zip codes, rather than politics influencing their areas.

[Laura]

Oh that makes sense.

I was wondering why the LAPD went out to Britney's house when she had all those episodes. Some would say her house was in Beverly Hills, which didn't make sense (no BHPD or BH firefighters/paramedics) then I would hear that it was in Studio City.

So it's BHPO---that also explains why Ed had a hard timing selling his place.

Well this makes my life so much easier now. Mystery solved.

[tew]

Does anybody ask what a successful 85 year old man is doing with millions of dollars in mortgage debt?

McMahon deserves our scorn, not our pity. He spent years conning people into Publisher's Clearinghouse Sweepstakes schemes and blew it all. Now he gets foregiven debt via the short sale and Congress gives him a tax break.

Sure he had some bad breaks in later years, but his rough patches pale in comparison to the challenges millions of Americans face even as they pay all of their bills and live in modest homes.

Even the "greatest generation" had plenty of bad apples.

[David Raether]

So... Donald Trump gets all the headlines for "saving" Ed McMahon's house... but doesn't actually do the deal.

That's perfect!

[Robert NO longer in LA]

Please explain 'Beverly Hills Postal.' Is that the lunatic fringe of BH 90210???

[Laker]

The agent does not want to say the buyers name.....we know the address,
let it close escrow and we will know it from public records within 14 days.....
LOL
Big F deal.

[Laker]

ohhhh, and btw for sfvrealestate, if the lucky buyer have used redfin to buy, he could get sweet $92,000 cash back after the sale closes....
Not to shabby.

[ButterBean]

I give Donald Trump credit for doing a good deed because as far as I know there was zero activity on Mr. McMahon's property until Mr. Trump showed interest and concern for him. Oh and for the guy who thought McMahon deserved scorn I think that's low. To my way of thinking, you don't kick someone when they're down.

[Franklly....]

Ed McMahon is nothing more than a huckster. Who can't manage money. Marries women half his ae. Makes me wonder if she has something to do with his financial woes.

Either way, Ed, no pity party here. You've lived a lavish life and got careless and reckless.

[Roger B. Feinman]

Ed McMahon has been a constant and tireless supporter of the Muscular Dystrophy Association's annual Labor Day telethon, along with Jerry Lewis's fundraising efforts. I never once saw Johnny Carson on that telethon. I don't know Mr. McMahon, and I have nothing against him -- certainly nothing approaching the bitter envy that I'm reading on this comments board. I'm grateful to him for years of entertainment, and I wish him a comfortable and peaceful old age.

[BottomFisher]

James Brown says: "I Feel Good"

[ED M]

Why shouldn't ED loose his house and end up homeless on skid row? He made more than enough money to live a very comfortable life, with NO financial worries. He got greedy, and like most of America he expects a bailout.
The man is in his 80's and he goes out and buys a house he cannot afford. When do people accept responsibility and take their medicine?

[Inland Empire]

When I saw the Donald was going to buy the house I wondered what the motive was. Since the Donald is a shameless self promoter a la Paris Hilton, I now wonder if the house didn't sell BEFORE the big announcement was made that he was going to buy it. That way the Donald gets the nice publicity and uses no money.